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  "documentTitle": "HyperloopTT | Investor Presentation Deck | 40 slides",
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  "authorName": "HyperloopTT",
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  "presentationDate": "2022-11-01 00:00:00",
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      "text": "PRO FORMA\nOWNERSHIP\nForest Road Sponsor 12.0%\nForest Road Public Shareholders 48.2%\nHyperloopTT Shareholders⁵ 39.8%",
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      "text": "HyperloopTT outstanding shares and convertible notes valued at $289 million¹\nTransaction funded by ~$330 million of cash held in trust²\n100% rollover by existing HyperloopTT shareholders\nCompletion of transaction expected in first half of 2023",
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      "text": "1 Based on total consideration to all equity holders of $600.0mm, which calculates to 60.0mm shares at an assumed price of $10 per share. Such 60.0mm shares will be allocated across the equity and equity-equivalent securities of HyperloopTT as follows: (i) 28.9mm shares will be issued upon the consummation of the transaction in exchange for the issued and outstanding common stock, preferred stock, and convertible notes of HyperloopTT and (ii) 31.1mm shares will be reserved for issuance upon the exercise of 21.5mm options and 9.6mm warrants of HyperloopTT, which will remain outstanding following the consummation of the transaction | 2 Assumes no redemptions from SPAC public shareholders and $20.0mm of transaction expenses | 3 Pro forma share count allocates 28.9mm shares to existing HyperloopTT shares, 35.0mm shares to Forest Road public common shares, and 8.75mm shares to Class B Founder shares; excludes potential incremental shares from Forest Road warrants, management incentive shares, and outstanding contributor options and warrants | 4 Assumes no redemptions from SPAC public stockholders and excludes potential dilution from warrants | 5 Excludes the impact of outstanding contributor options (21.5mm) and warrants (9.6mm)",
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      "text": "ILLUSTRATIVE PRO FORMA VALUATION\n($ in millions, except per share data)\nShare price at merger $10.00\nTotal shares outstanding at closing³ 72.7\nEquity value $727\n(-) Net cash (330)\nEnterprise value $397",
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      "text": "SOURCES & USES⁴\n($ in millions, except per share data)\nHyperloopTT shareholders⁵ $289\nForest Road cash in trust 350\nForest Road sponsor equity 88\nTotal sources $727\nHyperloopTT shareholders⁵ $289\nCash to HyperloopTT balance sheet 330\nEstimated transaction costs 20\nForest Road sponsor equity 88\nTotal uses $727",
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